FASB proposes accounting rule changes to curb abuses

05/2/2008 | Wall Street Journal, The

The Financial Accounting Standards Board is considering changes to accounting rules that would make it more difficult and expensive for banks to repackage and sell loans. The result may be higher borrowing costs for companies and consumers, but it would also prevent many of the abuses that led to the subprime meltdown. The rule changes will "be a little bit like taking the punch bowl away," said Robert Herz, chairman of the FASB.

View Full Article in:

Wall Street Journal, The

Published in Brief: